It's kind of like cheating, considering everyone else doesn't even know the framerate cap can be removed. I wouldn't be surprised if you got banned just for this, especially if you play on platform-specific servers.
The PC version always uses cross-platform servers, which means players WILL have different settings and may also play with a mouse+kb instead of being forced to use a controller (basically you play at your own "risk").
The Switch version doesn't allow the player to remove the FPS cap, therefore it wouldn't be fair if you did it anyway with a hack. If the XB1/PS4/mobile versions do allow it, then it's fine, since anyone on that specific platform can do it.
Note that a higher FPS means you will see the next frame earlier, possibly even before your opponents! That's why it's "cheating."
Lol, are you implying 20-30ms vs 33.33ms makes a difference for Fortnite players?